WINNIPEG – In the final trading day of 2022, the ICE Futures canola market was higher to start it off, despite light trade activity.
Chicago soyoil continued its ongoing decline, while European rapeseed was mostly higher and Malaysian palm oil was up.
Crude oil struggled to find direction on Friday morning after a restart of the Keystone pipeline, which had been shut down due to an oil spill earlier this month. An anticipated rebound of Chinese demand and the possibility of less Russian crude oil in the market also affected prices.
North American markets will be closed on Jan. 2 due to New Year’s Day.
The Canadian dollar was up more than one-tenth of a United States cent from Thursday’s close.
About 5,090 canola contracts were traded as of 8:45 CST.
Prices in Canadian dollar per metric ton as of 8:45 CST:
Mar. 878.20 up 3.10
May 875.70 up 3.40
Jul. 873.20 up 2.50
Nov. 838.80 up 1.30
